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LSE’s Shareholders Circulator on Refinitiv Accepted by the FCA

The Financial Conduct Authority (FCA) of the UK approved a shareholders’ circular from the London Stock Exchange (LSE) on the takeover of Refinitiv. LSE will need more regulatory approvals to move on with its takeover as the move could have a significant impact on market data costs. A $27 billion takeover The parent company of LSE has agreed to buy Thomson Reuters’ former financial and risk business called Refinitiv. The $27 billion takeover deal, including debt, was revealed in August this year. With the FCA’s approval, LSE has passed the first regulatory hurdle in its way. It released a statement announcing the acceptance, writing, “LSEG plc announces that the Listing Transactions Department of the Financial Conduct Authority (the “FCA”) has today approved LSEG plc’s shareholder circular in relation to the Transaction (the “Circular”).” After the FCA green signal, LSEG wants all its shareholders to attend a general meeting on November 26. If the deal is approved, it will set the company in direct competition with the likes of Bloomberg. LSE said that it expects the Refinitiv deal to wrap up in the second half of next year. Given the impact on market data costs, it will need at least a year to get all the regulatory approvals to see the deal through. LSE has faced regulatory problems before The LSE tried a merger with Deutsche Boerse in 2017. The £21 billion deal was blocked by antitrust regulators who feared that a merger of the two larger stock exchange operators in Europe would monopolize the market. The exchange explained that its transaction would Refinitiv classify as a ‘reverse takeover’ and depends on approval from the FCA. It will also rely on “London Stock Exchange agreeing to re-admit LSEG plc’s enlarged voting ordinary share capital to the premium listing segment of the Official List and to trading on London Stock Exchange’s Main Market for listed securities (“Admission”).” Refinitiv, led by Blackstone, will own a 37% share in the new combined entity. As the largest shareholder, it will get the right to name three directors to the company. Its former parent Thomson Reuters will hold a 15% share of the equity. As both companies overlap in terms of property, technology and corporate functions, the data generate by LSE could be combined with analytics and distribution systems of Refinitiv by the combined entity. The takeover will also help Reuters improve its profits. The post LSE’s Shareholders Circulator on Refinitiv Accepted by the FCA appeared first on Cryptovibes.com - Daily Cryptocurrency and FX News.

Digital Asset Custodian Koine Awarded Electronic Money Institution (EMI) License By FCA

Financial Conduct Authority (FCA) has awarded and Electronic Money Institution (EMI) certificate to crypto assets custodian, Koine, Financial Magnates reports. Koine announced on Thursday that it has secured a licence to issue electronic money from FCA. The licence means that Koine can now offer real time e-money payment services to their increasing institutional clientele. Koine […]
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Digital asset custodian Koine secures FCA EMI authorization

Koine, a provider of segregated, institutional custody and settlement of digital assets founded in 2017, announced today it was granted authorization for the issuance of electronic money (EMI Licence) by the Financial Conduct Authority (FCA). Koine selected the UK as its jurisdiction of preference to start its regulatory journey. Koine is also in the process […] CryptoNinjas: Digital asset custodian Koine secures FCA EMI authorization
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Price Analysis 15/11: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

Price Analysis 15/11: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX Fundstrat’s Tom Lee believes that cryptocurrencies “are network value assets” and as the number of people who hold the asset increases, the value of the cryptocurrencies would also move up. According to him, about half a million people use and own Bitcoin […] Cet article Price Analysis 15/11: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX est apparu en premier sur Bitcoin Central.
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